The Markets. Rates rose slightly in the past week, but these numbers were released before the weak jobs report was unveiled. Freddie Mac announced that, for the week ending June 2, 30-year fixed rates rose to 3.66% from 3.64% the week before. The average for 15-year loans increased to 2.92%. The average for five-year adjustables also increased to 2.88%. A year ago, 30-year fixed rates were at 3.87%, approximately one-quarter of one percent higher than today’s levels. Attributed to Sean Becketti, chief economist, Freddie Mac — “Since jumping 11 basis points on May 18th, the 10-year Treasury yield has leveled-off around 1.85 percent. Rates on home loans continue to adjust to this new level with the 30-year fixed rate inching up another 2 basis points this week to 3.66 percent. Recent statements by the Fed appear to have persuaded the market that a rate hike may come sooner than later. However, the market is fickle, and Friday’s employment report has the potential to swing opinion 180 degrees in the other direction.” Note: Rates indicated do not include fees and points and are provided for evidence of trends only. They should not be used for comparison purposes.
Current Indices For Adjustable Rate Mortgages
Updated June 3, 2016
Updated June 3, 2016
| Daily Value | Monthly Value | |
| June 2 | April | |
| 6-month Treasury Security | 0.48% | 0.37% |
| 1-year Treasury Security | 0.68% | 0.56% |
| 3-year Treasury Security | 1.03% | 0.92% |
| 5-year Treasury Security | 1.36% | 1.26% |
| 10-year Treasury Security | 1.81% | 1.81% |
| 12-month LIBOR | 1.230% (Apr) | |
| 12-month MTA | 0.438% (Apr) | |
| 11th District Cost of Funds | 0.690% (Apr) | |
| Prime Rate | 3.50% (Dec) |
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